Megaworld to open P2.1-B Belmont Hotel Boracay in August

Andrew Tan-led property giant Megaworld Corp., through subsidiary Global-Estate Resorts Inc. (GERI), is set to open a second hotel development inside its 150-hectare township Boracay Newcoast next month.

The P2.1-billion Belmont Hotel Boracay comprises three towers with 442 rooms.

“Our continuing thrust to help boost tourism in the country is even gaining more momentum as we open more hotels across our tourism townships. GERI, as the developer of Boracay Newcoast, remains committed to help build our country through tourism developments,” Monica Salomon, president of GERI, said.

Belmont Hotel is the second homegrown hotel brand introduced under Megaworld Hotels, the property developer said.

The first Belmont Hotel opened in Newport City in Pasay in 2015.

Another Belmont Hotel is set to open in Iloilo Business Park by 2023, Megaworld said.

Megaworld Hotels has so far opened five homegrown brands like Richmonde Hotels, Belmont Hotels, Savoy Hotels, Twin Lakes Hotel, and Hotel Lucky Chinatown with close to 3,000 rooms.

In the next five years, the company said it will open new homegrown hotel brands in Parañaque, Bacolod, Iloilo, Boracay, and Laguna.

In the first quarter of 2019, Megaworld said its hotel business became its fastest growing segment— growing 56% to P574 million compared with P368 million last year. —Ted Cordero/VDS, GMA News